- USD/THB is currently trading around 30.96 marks.
- It made intraday high at 31.15 and low at 30.95 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.25 mark.
- On the top side, key resistances are seen at 31.25, 31.37, 31.50, 31.70 and 31.92 marks respectively.
- Alternatively, a daily close below 31.05 will drag the parity down towards key supports around 30.87, 30.70, 30.56, 30.37, 30.15, 29.96 and 29.72 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go long on USD/THB around 30.90, stop loss at 30.70 and target of 31.25/31.37
